SHERIDAN, Wyo., March 10, 2021 (GLOBE NEWSWIRE) — Though the Epicenter ecosystem and its cryptocurrency, Epic Cash, have been identified to veteran crypto fanatics for a while, it stays among the many greatest stored secrets and techniques throughout the broader DeFi business. Launched in September of 2019, Epic Money is modeled after Bitcoin, with a pre-defined emission schedule and the identical arduous restrict on the whole coin provide; nonetheless, it has a number of design enhancements and vital benefits over the “Founding Father” of the cryptocurrency motion.
Bitcoin as we speak is clearly the highest canine within the cryptocurrency universe. It’s the usual for accessibility, belief, safety, and transferability, in opposition to which all different digital currencies are measured. Though it has well-documented shortcomings, resembling a focus of energy in centralized exchanges, growing charges, and volatility, it’ll little doubt stay the market chief for the foreseeable future. So how does Epic Money measure up in opposition to Bitcoin?
The Basis of the Epicenter Ecosystem
The Epicenter ecosystem was designed to handle the issues inherent in Bitcoin, in order to ship on Nakamoto’s authentic imaginative and prescient, during which massive numbers of small transactions are processed effectively, anonymously and securely on a decentralized community of light-weight nodes.
With its triumvirate of digital belongings – EPIC (Epic Money), EUSD (soft-pegged secure coin) and ECR (reserve token) – the Epicenter ecosystem combines a retailer of worth, medium of alternate and unit of account to ship the stable financial platform that decentralized finance requires.
EPIC addresses the entire attributes wanted to foster mass adoption: fungibility, scalability, censorship resistance, centralization resistance and regulatory compatibility. To make sure fungibility, EPIC leverages the Confidential Transactions (CT) and CoinJoin applied sciences to scramble transaction particulars, resetting the possession historical past every time cash are spent, thereby stopping tainted cash. For scalability, EPIC’s mild, mobile-native protocol permits for a predominantly Layer-1 scaling mannequin. With regard to centralization points, EPIC might be mined on peculiar residence computer systems, leveling the taking part in subject for small-scale miners.
Epicenter gives an built-in and related ecosystem of composable parts with multi-chain connectivity. This distinctive connectivity function gives builders with the instruments they should construct decentralized functions. Epicenter permits for versatile, decentralized finance options, together with lending, staking, swapping, funds and future options, all enabled with crypto-to-fiat convertibility.
Storage, Ease of Use, and Convertibility
The scale of the Bitcoin blockchain has been a problem for a while and the issue is simply getting worse. Bitcoin can’t be readily mined or saved on cellphones, nor on most PCs. In distinction, through the use of the Mimblewimble protocol, EPIC is ready to run natively on low-end cell gadgets. A full node requires lower than 1.2 GB – about 1/10th of the space for storing required for Bitcoin. Improved Layer-1 know-how permits EPIC to attain a lot quicker transaction speeds.
Whereas there may be growing acceptance of cryptocurrencies by retail traders, establishments and companies as an entire, cryptocurrency customers nonetheless face problem in utilizing it for real-world transactions. To deal with this drawback, Epicenter launched EUSD. EUSD is a secure coin that’s soft-pegged, one-to-one, to the U.S. greenback: it’s immediately convertible to the greenback equal of Epic Money. EUSD is enticing for industrial functions as a result of its charges are very small and the danger of fraud is non-existent.
EPIC has a hard and fast whole provide of 21 million cash, and greater than half of these cash have already been mined. With a robust future halving coverage, shortage shall be assured, in marked distinction to fiat foreign money, whose provide is unconstrained and always accelerating.
With regard to ECR, an preliminary circulating provide of 25 million tokens shall be generated, with a one-to-one matching to the ~11 million models of Epic Money that may exist when an possession snapshot takes place later this quarter. On that date, every proprietor of Epic Money will have the ability to declare a corresponding quantity of ECR. The remaining ~14 million ECR tokens shall be allotted to ecosystem companions, advisors and traders, to create a core group with “pores and skin within the recreation,” motivated to see that the neighborhood as an entire is profitable.
Epic Money reveals true promise in delivering on Satoshi Nakamoto’s authentic imaginative and prescient for Bitcoin, as expressed within the seminal 2008 whitepaper. Epicenter holds that, with elevated mining and ease of use, massive numbers of safe transactions might be processed day by day with out the supervision of a centralized authority. With its associated belongings of EUSD and ECR, EPIC has the potential to turn out to be Bitcoin re-mastered.